EURUSD approaching its resistance, potential to drop!

EURUSD approaching its resistance at 1.2355 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially see a reaction causing it to fall it its 1st support at 1.2260 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). We have identified a 2nd resistance at 1.2411 (100% Fibonacci extension, horizontal swing high resistance). A descending resistance line has also been identified adding to our bearish bias.

Stochastic (21, 5, 3) shows it approaching its resistance where a corresponding reaction could occur.

Trade chiuso: obiettivo raggiunto:

woohoo!! EURUSD dropped all the way to our 1st support. Hope you guys caught this too!